OTTAWA: The Canadian Imperial Bank of Commerce (CIBC) on Wednesday made a US$3.8 billion offer to buy Chicago-based investment bank PrivateBancorp as it looks to expand in the US. CIBC expects to pay US$1.5 billion in cash and issue 29.5 million shares to finance the acquisition, it said in a statement. PrivateBancorp operates in 12 US states and manages assets totaling US$17.7 billion. The takeover bid is expected to be finalized early next year.
KP releases Rs80.7 billion for ongoing development projects
PESHAWAR: The Khyber Pakhtunkhwa government has released Rs80.7 billion for ongoing development projects under the Annual Development Programme (ADP) 2026–27,...
